The U.S. benchmark S&P 500 stock index snapped a six-day losing streak on Friday as technology stocks recovered after a week of losses, with investors looking for bargains ahead of the third quarter earnings reporting season.
The S&P technology index .SPLRCT gained 3.2 percent on the day, showing its strongest one-day gain since March 26, although it still registered its biggest weekly drop since March 23.
With the upcoming start to our latest 17%pa Yield investment in an underlying in four of the US Tech Giants, I have had many clients contact me over the last 2 days asking about the potential impact of the share price drop on Wednesday night.
As I explained to my clients, one of Warren Buffet’s lessons is to be “Fearful when others are greedy and greedy when others are fearful”. The drop that occurred on Wednesday night was more about profit taking in the face of ongoing US-China Trade negotiations and also rising interest rates and bonds. There were not a lot of buyers in the market and this triggered many RoboTrader Algorithms to SELL… and then markets were off 4-5% overnight. Our latest investment is going to market on Monday 22nd October. I explained to my clients that I hope the markets continue to correct, and we are able to buy in at a 10% discount on trade date! However, I also explained to not hold their breath as I expect the buyers to come back into the markets next week.
Looks like that has occurred a little earlier with the following jump in prices overnight: Apple 3.57%, Amazon 4.03%, Netflix 5.75% and PayPal 4.12%!
If you would like to find out more about our upcoming investments, click on the link below and register to watch the recorded webinar.
https://register.gotowebinar.com/recording/5095323094450933516
